Using Multiple Credit Cards

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Using Multiple Credit Cards

Postby Whatamuji » Sun Jun 14, 2015 8:21 pm

What is everyones preference concerning card usage? Do yall use all your cards every month or do you usually just use one card per month or some similar combination?
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, Chase Freedom Unlimited: 3.2k, AMEX HHonors 5k

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Re: Using Multiple Credit Cards

Postby rockyrock » Mon Jun 15, 2015 9:07 am

I have everyday cards, cards for specific purchases and some I've never used.

Right now and proly for the next year the BCP and IT are my everyday cards. I am using my AT&T card to meet the spend requirement but will proly reduce it to the "specific purchases" cat once I meet it.
Sapphire Reserve: travel & dining
Blue Cash Preferred: groceries & gas
Freedom: 5% cats
Double Cash: everything else

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Re: Using Multiple Credit Cards

Postby takeshi » Mon Jun 15, 2015 9:15 am

People vary quite a bit on this for a number of different reasons. Some people only have one card. Some people have one go to card and maybe a few others. I have about 13 cards and they do not all get constant use. Usage is all based on maximizing rewards so the cards that cover my most frequent spend get the most use. With 3 cards that potentially change rewards categories on a quarterly basis their usage all depends on what categories they cover for the quarter.

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Re: Using Multiple Credit Cards

Postby JonE » Mon Jun 15, 2015 9:27 am

I'd probably use them all but for different purposes. My ultimate lineup would be a 5% rotating category card (already covered with Freedom), a 2% non-category card (Citi Double Cash?), One for the major categories (Gas and Groceries, Amex BCP probably because of the 3x CLI after 60 days), and one travel card (CSP to go with Freedom). That's when I figure I'm done with acquiring credit
Wallet: Chase Freedom, Discover IT
Chopping Block: Synchrony
Future: TBD

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Re: Using Multiple Credit Cards

Postby obxfisherman » Mon Jun 15, 2015 10:21 pm

I have roughly 17 open credit cards right now. So I don't use all of them within a month. I have many store cards, such as walmart, lower, sears, etc that I haven't used since last year. I do need to use them though since I just got a CLI a few months ago, and until I use it a couple of times they won't give me more credit lol....My signature represents the cards I carry, so they could be considered my "multiple" credit cards. However, I almost always put all of my purchases on the Marriott Card....because the benefits are worth it for me personally. I used to use a lot of my cards, each month but keeping track of payment due dates, statements etc became a hassle...this is why I've kind of stopped although it would be wise for me to start again if I want more CLI, although I don't really need them so maybe I should just continue how i'm doing now lol..
Cards Currently In My Wallet(See Avatar)
Chase Marriott Rewards Visa Signature (Daily Purchase): 13.4K
NFCU Visa SignatureCash Rewards: 5K
Sheetz Discount Card 3c Off PerGallon Of Gas Everyday

Total Credit Card Limits Roughly: 61.5K

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Re: Using Multiple Credit Cards

Postby CarefulBuilder14 » Tue Jun 16, 2015 1:16 am

I generally pick the card that will give me the greatest rewards. Usually, that's EDP, Freedom, CSP, or Discover. PRG, BCE, and Brooks Bros require a special offer. Sallie Mae at Amazon, although it's probably not a good idea since I won't be redeeming the rewards on that again for a while.

Once IHG arrives, I'll have minimum spend on that. I still need to figure out an ideal temporary adjustment to my card choice. I'd feel inefficient if I was using IHG too much and missing out on the chance to earn URs and MRs in bonus categories.

And I have to find some things to redeem my Arrival rewards on. The few small travel transactions I put on it were under $25, which makes them ineligible. It does seem a little wasteful to put spending on Arrival when I could be putting it on CSP.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

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